FX.co ★ BTC update for December 15, 2023 - Potential for the further drop

Technical analysis:

BTC/USD has been trading downside this morning and I found rejection of the resistance at the price of $43.400, which is sign for the downside rotation.

Due to the rejection of the resistance cluster and the divergence on the RSI oscillator, I see potential for the further downside movement towards lower references.

Downside objectives are set at the price of $41.650 and $40.340

RSI oscillator is showing bearish divergence, which is good sign for the further downside movement.

Key resistance is set at the price of $43.500